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Invisible PFM Will Transform Banking As You Know It

Personal Financial Management (PFM) has evolved greatly since its birth in the early eighties. Originally developed to bring money management into what was then a widespread technological shift to the nascent personal computer age, PFM has since become a sophisticated means of managing your money.

But in its current “visible” guise, PFM is not nearly as innovative as it can be, and it is the “invisible” idea of PFM that is set to overhaul banking as we know it.

In this article, we look at why the unseen PFM is inevitable and why it will be the driving force in transforming banking. Additionally, we look at how banks will evolve to intuitively anticipate their customers’ financial needs as well as scrutinize the major threat that all banks face if they fail to adapt.

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Topics: FinTech, PFM, Personal Financial Management (PFM), personalized banking, invisible PFM, personalized finance, Popular

Author: Erik Brieva, CEO on Dec 11, 2018

How Machine Learning Makes Banking More Personal

The rise of financial technology, or FinTech, has been one of the most exciting developments of recent years. Firms such as Transferwise, Kantox, Monzo and iZettle have proved that tech startups are capable of offering individuals and SMEs quicker, cheaper and more convenient financial services than traditional banks.

New progress in the area of artificial intelligence and machine learning has created the opportunity for fintech to steal yet another march on banks. Creative application of machine learning has the potential to enable startups to also offer a fairer and more personal service than anything that has come before.

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Topics: AI, Machine Learning, personalized banking, Artificial Intelligence, Digital Transformation

Author: Nicole Harper, Content Manager on Sep 30, 2016

How personalization powers the customer journey

David Sosna, CEO and co-founder of Personetics, talks to Shaun Weston of BankNXT about the power of personalization in banking, and how it can be used to enhance the customer journey.

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Topics: Personal Financial Management (PFM), customer retention, personalized banking, customer experience, alternative finance

Author: Nicole Harper, Content Manager on May 4, 2016

The crucial data missing from online banking... and customers would love to know

When I log into my online banking, I always find two account balances: the one I see on the screen (duh) and the one I need to figure out in my head (ouf!). The worst part is, neither of them are accurate or satisfactory...

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Topics: Personal Financial Management (PFM), personalized banking, PFM, OK to Spend, safe to spend, online banking

Author: Xavier Marcillac, VP Sales APAC on Feb 16, 2016

Porqué los usuarios te ignoran: la importancia de la UX

La experiencia de usuario (UX) está asociada a las emociones, los sentimientos, a la construcción, transmisión de la marca y la confiabilidad del producto. Como vemos, UX puede resultar un término bastante amplio. En este sentido, la experiencia de usuario se vuelve imprescindible como estrategia de abordaje y análisis de la eficacia de nuestros productos y nos permite parametrizar las repercusiones sobre el público al cual nos dirigimos.

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Topics: personalized banking, PFM, customer experience, user experience, UX, UI, experiencia de usuario

Author: Gastón Lasarte, Frontend Developer on Jan 15, 2016

The experience customers expect from their bank

Dear Banks,

Welcome to The Age of the Customer. For FIs, this means shifting the banking relationship beyond transactional services to the very heart of your customers’ daily living experience. But what does that actually mean in practical terms, and how can banks achieve it?

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Topics: Personal Financial Management (PFM), Digital Transformation, digital money management, personalized banking, customer experience

Author: Erik Brieva, CEO on Oct 6, 2015

6 ways FinTech can change the banking game for women

FinTech has been lauded as a game-changer in nearly every sense of the word, but can it also revolutionize the way banks serve women? 

Right now, women clients are finding that FIs simply aren't meeting their specific needs. In fact, a BCG survey of more than 12,000 women from 21 countries found that of all the industries that affect their daily lives, women feel most dissatisfied with the financial services industry, both on a product and service level.

The surveyed women also reported a strong willngness to switch to a provider that would understand them better. This translates to real costs for banks failing to deliver an empathic understanding of women's unique situations and needs in running their homes and businesses (oftentimes happening simultaneously).

After all, we're talking about 50% of Earth's population here, and that's no small change - particularly when it comes to women who run their own business. Women entrepreneurs represent a very profitable and financially engaged segment with an even more specific set of needs that have traditionally been ignored. According to a 2014 Goldman Sachs report, woman-owned SMEs represent an untapped potential market for banks of approximately $235 billion

So why, in so many aspects of banking, haven't women's needs been prioritized? And how can FinTech help the financial services industry cater more effectively to women entrepreneurs? 

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Topics: FinTech, Digital Transformation, SMEs, Financial services for women, personalized banking, women entrepreneurs

Author: Leandro Gimeno, Business Development Manager on Sep 17, 2015

What if banking was as personalized as streaming music?

Banks have the chance to revolutionize finance just as Spotify has with music - but how can they use their Big Data advantage?

Are you in love with “Discover Weekly” too? Fellow Spotify users know what I’m talking about: the newest feature is a two-hour playlist, updated automatically every Monday, and based on both my personal taste as well as the listening habits of other users with similar preferences. Spotify claims that Discover Weekly will automatically adapt as my musical tastes evolve, and the more I use their service, the more relevant my algorithm-based curation will become.

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Topics: Disrupting Banking, Digital Transformation, Big Data, Retail banking, personalized banking

Author: Victoria Yasinetskaya, Marketing Director on Sep 8, 2015

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